For Traders

Analytical Reviews

Hot forecast

30.09.202216:52 Forex Analysis & Reviews: CAD/JPY: range to explode soon

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

CAD/JPY Downtrend Intact!

The CAD/JPY pair has been moving sideways between the 104.78 low (downside obstacle) and 105.97 (upside obstacle). The downtrend line represents an upside obstacle as well. As long as it stays under this line, it could drop towards new lows.

Technically, the current sideways movement could bring new trading opportunities. Escaping from this pattern could confirm a clear direction.

CAD/JPY Trading Conclusion!

Dropping below 104.78 activates more declines and brings selling opportunities.

Jumping and stabilizing above the downtrend line and above 105.97 signals that the downside movement ended and that the USD/CAD pair could develop an upside reversal.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.